The equation to be used is
[tex]F=P (1+i)^{n} [/tex]
where P is the present worth equal to $7 million, i is the annual interest rate of 5.4% and n is the number of years which is equal to 6 years. Then,
[tex]F = 17 \ million(1+0.054)^{6}=2,330,733.33[/tex]
Therefore, the Keck Industries will pay $2,330,733 over the life of the bonds.
